Gold Closes Lower Following Large Weekly Gains

Gold prices closed lower on Monday, after recording its best weekly performance since December 18 last week.

The yellow metal’s decline comes despite the decline of the U.S. Dollar (USD) near its lowest level in about six weeks.

Gold futures for June delivery decreased by $9.60, or 0.5%, to finish at $1,770.60 per ounce.

Last week, gold’s most active contract rose by 2%.

Meanwhile, silver futures for May delivery lost 27 cents, or 1%, to settle at $25.84 an ounce.